Circulaire N° 001 de 2024 relative aux activités des établissements de paiement émetteurs de monnaie électronique (Circular No. 001 of 2024 on the Activities of Electronic Money-Issuing Payment Establishments) (Burundi)

Circular No. 001 of 2024 of the Banque de la République du Burundi (BRB) governs the activities of electronic-money-issuing payment establishments (établissements de paiement émetteurs de monnaie électronique, EME). It supplements Regulation No. 002 of 2024 on payment services by setting the specific requirements applicable to entities that issue electronic money and operate mobile money wallets in Burundi, a sector that, as of 2025, comprises EMEs such as LUMICASH, SASAI FinTech Burundi and CASHTEL, in addition to banks and microfinance institutions offering digital financial services. Scope and applicability: the Circular applies to payment establishments authorised, or seeking authorisation, to issue electronic money in Burundi. It addresses the conditions for issuing e-money, the operation of electronic wallets, and the safeguarding obligations specific to e-money float. Core obligations centre on customer-fund protection and operational integrity. EMEs must ensure that electronic money issued is fully backed by, and equivalent to, customer funds held in a segregated/trust arrangement at a bank, ring-fenced from the EME's own resources; maintain reconciliation between e-money outstanding and the backing funds; and observe limits, customer due-diligence tiers and consumer-protection requirements. The Circular addresses governance, risk management, technology and security standards, agent oversight, interoperability, transaction and reporting obligations to the BRB, and AML/CFT compliance. Supervision and enforcement: the BRB supervises EMEs through reporting, reconciliation and inspection, and may impose corrective measures or sanctions for failure to maintain adequate backing, misuse of customer funds, or other breaches. Read with Regulation No. 002 of 2024 (payment services) and Regulation No. 003 of 2024 (agents), the Circular completes the BRB's 2024 framework for mobile money and electronic money in Burundi.

1. 1Sets specific requirements for electronic money-issuing payment establishments (EME) issuing e-money and operating wallets
2. 2Full backing of electronic money by segregated customer funds, ring-fenced from the EME's own resources, with reconciliation
3. 3Customer due-diligence tiers, transaction/balance limits and consumer-protection requirements
4. 4Governance, risk-management, technology, security and agent-oversight standards
5. 5Interoperability, transaction reporting to the BRB and AML/CFT compliance
6. 6BRB supervision via reporting, reconciliation and inspection, with power to sanction inadequate backing or misuse of funds